William King Museum Of Art
- Assets
- $4.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 31
- Location
- Abingdon, VA
- Founding
- 08/1992
- Data as of
- 06/2023
- EIN
- 54-1144120
Organization Overview
William King Museum Of Art is located in Abingdon, VA. The organization was established in 1992. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, William King Museum Of Art employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William King Museum Of Art is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, William King Museum Of Art generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $1.5m during the year ending 06/2023. While expenses have increased by 6.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ART EXHIBITS AND EDUCATION TO SOUTHWEST VA & NORTHEAST TN
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EXHIBITS AND EDUCATION PROGRAMS FOR CHILDREN AND ADULTS OF THE REGION
ART EXHIBITS AND EDUCATION PROGRAMS FOR CHILDREN AND ADULTS OF THE REGION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Davidson Emeritus Tru | Trustee | $0 | |
Ben Jennings Emeritus Tru | Trustee | $0 | |
Betsy White Executive Di | Officer | 40 | $67,577 |
Martin Dotterweich Trustee | Trustee | $0 | |
Lou Fincher Trustee | Trustee | $0 | |
Emily Lee Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $68,113 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $168,457 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,478,981 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,715,551 |
| Total Program Service Revenue | $147,411 |
| Investment income | $7,015 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $74,573 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,951,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $589,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $50,837 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,377 |
| Office expenses | $23,442 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,287 |
| Travel | $16,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $193,233 |
| Insurance | $37,153 |
| All other expenses | $132,657 |
| Total functional expenses | $1,512,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,113 |
| Savings and temporary cash investments | $429,744 |
| Pledges and grants receivable | $34,261 |
| Accounts receivable, net | $86,063 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,338 |
| Net Land, buildings, and equipment | $3,663,014 |
| Investments—publicly traded securities | $84,762 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,682,295 |
| Accounts payable and accrued expenses | $216,299 |
| Grants payable | $0 |
| Deferred revenue | $82,820 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $177,553 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,595 |
| Total liabilities | $482,267 |
| Net assets without donor restrictions | $3,777,041 |
| Net assets with donor restrictions | $422,987 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,682,295 |